NET LOSS PER SHARE

9 Months Ended

Sep. 24, 2023

During the thirteen and thirty-nine weeks ended September 24, 2023 and September 25, 2022, the rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock were identical, except with respect to voting. As the liquidation and dividend rights were identical, the undistributed earnings were allocated on a proportionate basis and the resulting net loss per share attributable to common stockholders were, therefore, the same for both Class A and Class B common stock on an individual or combined basis.

The following table sets forth the computation of net loss per common share:


	Thirteen weeks ended				Thirty-nine weeks ended
	September 24, 2023		September 25, 2022		September 24, 2023		September 25, 2022
(dollar amounts in thousands)
Numerator:
Net loss	$	(25,055)	$	(51,027)	$	(85,970)	$	(141,183)
Denominator:
Weighted-average common shares outstanding—basic and diluted	112,179,722		110,375,126		111,687,538		109,848,272
Earnings per share—basic and diluted	$	(0.22)	$	(0.46)	$	(0.77)	$	(1.29)

The Company’s potentially dilutive securities, which include preferred stock, time-based vesting restricted stock units, performance stock units, contingently issuable stock and options to purchase common stock, have been excluded from the computation of diluted net loss per share as the effect would be antidilutive. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and

diluted net loss per share is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect:


	Thirteen weeks ended		Thirty-nine weeks ended
	September 24, 2023	September 25, 2022	September 24, 2023	September 25, 2022
Options to purchase common stock	13,471,636	13,410,616	13,471,636	13,410,616

Time-based vesting restricted stock units	1,287,884	2,063,652	1,287,884	2,063,652
Performance stock units	6,621,428	6,621,428	6,621,428	6,621,428
Contingently issuable stock	714,285	714,285	714,285	714,285
Total common stock equivalents	22,095,233	22,809,981	22,095,233	22,809,981